Topic
Preference Actions
210 published works
Delaware Bankruptcy Blog
Sears and Kmart Preference Actions Filed En Masse in the Southern District of New York
By Carl D. Neff
Starting on October 8, 2020, Kmart Holding Corporation, Sears, Roebuck & Co. and other affiliated debtors of Sears Holdings Corporation (“Debtors") collectively filed over 400 complaints in the United States…
New Jersey Law Blog
Sears Continues to File Hundreds of Preference Suits Against Trade Creditors
By Thomas S. Onder, Joseph H. Lemkin
The lawsuits just keep coming… last week, Chapter 11 Debtor, Sears Holdings Corporation (“Sears”) continued to file hundreds of preference complaints to recover money from paid pre-petition creditors. The Debtor…
Restructuring Globalview
I’ll Gladly Pay You Tuesday for an Ice Cream Cone Today: 11th Circuit Clarifies Availability of “New Value” Defense in Bankruptcy Preference
Last month, the Eleventh Circuit Court of Appeals clarified the circumstances under which a creditor can assert a “new value” defense to a preference action under section 547(c)(4) of the…
In Solvency
Eleventh Circuit Holds “New Value” Need Not Remain Unpaid
By Fox Rothschild LLP, Fox Rothschild LLP
Michael Temin writes: One of the commonly asserted defenses to preference avoidance actions is the “new value” defense set forth in 11 U.S.C. § 547(c)(4). One issue considered by courts…
Delaware Bankruptcy Update
Preference Actions filed in Hancock Fabrics
On January 31, 2018, Hancock Fabrics Inc., the post-effective date debtor, filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548…
In Solvency
Preference Actions filed in Hancock Fabrics
On January 31, 2018, Hancock Fabrics Inc., the post-effective date debtor, filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548…
Delaware Bankruptcy Update
Gross Opinion Calls New Value “A Beacon of Light”
In a 32 page opinion entered December 5, 2017 Judge Gross of the Delaware Bankruptcy Court ruled on cross motions for summary judgment concerning an avoidance action in the Simplexity bankruptcy. Judge…
Delaware Bankruptcy Update
Boomerang Systems – 12(b)(6) Motion to Dismiss Denied
In a decision signed September 21, 2017 in an adversary proceeding related to the Boomerang Systems bankruptcy (case 15-11729), Judge Walrath of the Delaware Bankruptcy Court denied a defendants FRCP 12(b)(6)…
In Solvency
Boomerang Systems – 12(b)(6) Motion to Dismiss Denied
By Fox Rothschild LLP, Fox Rothschild LLP
In a decision signed September 21, 2017 in an adversary proceeding related to the Boomerang Systems bankruptcy (case 15-11729), Judge Walrath of the Delaware Bankruptcy Court denied a defendants FRCP 12(b)(6)…
Delaware Bankruptcy Update
Samson Resources Preference Actions Filed in Delaware
Starting on September 12, 2017, Peter Kravitz, as Settlement Trustee of the Samson Settlement Trust, filed approximately 293 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under…